Question: A small software company bids on two contracts It anticipates a profit of 30 000 if it gets the lan company estimates that there is

A small software company bids on two contracts It anticipates a profit of 30 000 if it gets the lan company estimates that there is a 35 chance it will get the larger contract and a 61 chance it will get the smaller contract If the company does not get either contract it will neither gain nor lose money Assuming the contracts will be awarded independently what s the expected profit E X CICCEID

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